Thursday, November 17, 2011

Links Nov 17

Kodi Katika Afrika - 'Tax in Africa' African Tax Administration Forum (ATAF)Nov 9 Edition - This edition of the weekly update on tax issues in Africa pays special attention to the developments at the 2011 G20 Summit in Cannes.

Zambia: CTPD welcomes governments Mining Tax Measures in 2012 Budget and urges Mining Companies to ‘Pay Up, Clean up or Get Out’ Center for Trade Policy and InvestmentNov 14 - Press Release: The Centre for Trade Policy and Development (CTPD) has welcomed the recent tax measures introduced by the government of Zambia in the recently announced 2012 budget last Friday. CTPD believes the measures will not only help maximise local revenue mobilisation but will help to reduce the amount of revenue lost through tax avoidance practices by mining companies. Hat tip: Savior Mwambwa.

Nigeria: ‘Blame poor enforcement for tax evasion’ The NationNov 13 - An interview with John Femi Jegede - President/Chairman in Council, Chartered Institute of Taxation of Nigeria (CITN). Mr. Jegede gives useful insights about various issues with regard to taxation in Nigeria, including the progressivity of the tax system, taxpayer education and causes of tax evasion in Nigeria. Hat tip: Sandra Kidwingira.

UK urged to prevent vulture funds preying on world's poorest countries GuardianNov 15 - "Campaigners demand Jersey legal loophole be closed as financiers seek $100m from the DRC. Britain is being urged to help close down a legal loophole that lets financiers known as "vulture funds" use courts in Jersey to claim hundreds of millions of pounds from the world's poorest countries."

India: Ten means to put an end to black money issueThe Economic TimesNov 17 - On 10 things the government could do to come down harder on this economic crime.

See also:Six ways in which black money is created The Economic TimesNov 17 - "Black money is turning out to be big issue with many political leaders and civil society members speaking a lot about it. ET brings out the ways in which the black money is created."

See also:What obstacles are preventing black money retrieval by the government The Economic TimesNov 15 - "From new agreements with tax havens to dedicated teams tracking data, the government says it's doing lots to crack down on black money. But it all falls flat because the authorities don't have the laws, skills and political will to translate this into results."The EU signals its intention to tackle tax haven abuse - and its track record is good Tax Research UKNov 17 - Richard Murphy on a report by the EU Observer. "The EU has an impressive record in tackling tax haven abuse ... Its European Union Savings Tax Directive is flawed, but is making progress, and even as it stands is a beacon for the importance of automatic information exchange whilst its EU Code of Conduct on Business Taxation has been enormously helpful in tackling tax abuse both on and offshore."

Tax evasion pressure maintained on Switzerland swissinfoNov 16 - "International pressure on tax haven Switzerland to amend its ways is showing no signs of relenting despite Swiss efforts to resolve the long-standing row. The latest moves by Germany, France, the United States, the G20 group of powerful nations and the European Union demonstrate that the renegotiation of tax treaties will not make the issue go away."

Sweden acts to curb corporate tax-avoidance The LocalNov 17 - On plans to close loopholes in the Swedish tax code.Swedish finance minister Anders Borg said "the Swedish Tax Agency (Skatteverket) shouldn't hesitate to take companies with questionable interest rate structures to court in order to determine if they violate Sweden's laws against tax evasion.Tax-haven problem not in the Caribbean - former diplomat Jamaica GleanerNov 17 -"A former Caribbean diplomat is urging regional countries to adopt a common position in their response to allegations by French President Nicolas Sarkozy that at least three Caribbean Community (CARICOM) countries were operating as tax havens.". See TJN's observation here.

Tax haven crackdowns concern Latin American bankers Miami TodayNov 17 - ' Regulatory crackdowns on banking tax havens are weighing heavy on the minds of international bankers, as evidenced at this week's Latin American Federation of Banks annual assembly in Miami ... "The war drums are still beating," said Frank Robleto, president of the Florida International Bankers Association" Of particular concern is the Foreign Account Tax Compliance Act, or FATCA. Hat tip: Offshore Watch.

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The Tax Justice Network (TJN) is an international, non-aligned network of researchers and activists with a shared concern about the harmful impacts of tax avoidance, tax competition and tax havens.
www.taxjustice.net